My Journal

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wildshoe

My last journal wasn't very thorough, this one I intend to make extremely thorough and detailed. If someone can glean something from it, that's awesome, but I don't intend to give away any secrets really, maybe here and there. I tend to trade off of a few specific indicators and timeframes. My analysis is completely technical and sentimental.

My trading goals has always been to join "them" on the ups and downs, whoever "they" are. When "they" don't seem like they know where they are going I stay out and wait for this mysterious "they" to decide where they want to go.


This is all simulation trading, by the way. I know this entry isn't exactly high probability or ideal, but the trend already took a small correction, so I don't think I'll have a great buying opportunity until it's too late. I'm very bearish right now, and I normally don't let my (elementary) ideas of the market affect my trading but with the markets as they are, I wanted to put a trade on this trend ASAP.


Right now I am short TF @ $665.70
My mental stop is somewhere around $669

I don't set targets, I let the market take it's course, and liquidate my positions based on TA not upon my "fear or greed".
 
Quote from wildshoe:

Right now I am short TF @ $665.70
My mental stop is somewhere around $669
[/B]
More...

flat @ $658.60

P/L (points): 6.90

thoughts: i'm glad I rode this one out, it's a significant gain seeing as how my entry was less than fashionably late...

exit cue: going to sleep soon, new Heiken-Ashi trend on 15m(and lower) charts, 1 hour bar ticking up, Rate of Change approaching (or passing) 0 (zeroline) on all time frames, Bollingers consolidating, trend flattening

what i've learned: despite the fact that I miss alot of RTH due to living on the west coast, I (might) need to stop trading (even sim trading) the after hours, it is too flat, too choppy, too illiquid. it's a bad habit, my best trades are always during RTH. As for this particular trade, I think it has alot of steam left in it, I think the Monday open will get pretty ugly, but who knows...I'd rather sleep in peace tonight. I still can't get ThinkOrSwim to fill my stops, which would be helpful...

my (short term) indicators are screaming at me to go long @ $660.6, again not the best entry, but i'll take it, i'll be out of that position in no time though...

so yeah, long @ $660.6 (short-term position)
 
Quote from wildshoe:
so yeah, long @ $660.6 (short-term position) [/B]
More...


flat TF @ 659.4

P/L (points): $1.20

could've gotten out at 663...

some valuable lessons learned

1) overtrading the night sesh is never a good idea
2) i resisted the urge here to "reverse" my position, but remembered the 1,000,000x where this has failed me, i'm glad I finally have realized this, I need to wait for my entrances, not flipflop back and forth at the median price...
3) when I get short term indications to buy I need to scalp the high within 15 minutes, not wait for a grand-slam reversal --
 
long NQ @ 2157 even

reason for entry: technicals, positive momentum, hopefully catching the upsurge of a big trend

my stop is somewhere around 2151 or 2152 depending on what happens to momentum
 
Quote from wildshoe:

long NQ @ 2157 even

reason for entry: technicals, positive momentum, hopefully catching the upsurge of a big trend

my stop is somewhere around 2151 or 2152 depending on what happens to momentum
More...

flat NQ @ 2192

p/l (points): 35 - that's 175% the daily range of NQ, not bad for 1 trade!

exit criteria: new Heiken-Ashi trend on 5 min chart, momentum flat or reversing on all charts, SMI changing direction, this one has steam left in it, but i'm sick of trading it, not a huge fan of the NQ, it moves too slow for me

thoughts: i would have liked to hold onto this one a bit longer, i have no doubt it will surge up again in one last move maybe i should have sold 1 contract and seen what the other 2 were gonna do, but I've gotta run to the store and this seems like a good time to lock my (paper) profits in

edit: as we speak it is at 2196 and rising, can't let it bother me though, gotta run!
 
short ES @ 1159.25

justification: momentum turning down, stochastic momentum index in the red, price has had a hard time getting past 1160 all day, starting to tick down, new heiken-ashi trend emerging on all time frames

goal: i don't see a huge surge coming here, probably just a minor retracement to center(of BollingerBands) i see 10 points at most here, but I think it's a valid opportunity

my mental stop is somewhere at 1161
 
doubled down @ 1158.25, momentum was picking up, i'll be keeping a close eye on this trade since its so short term, so i'm going 4 contracts short
 
Quote from wildshoe:

doubled down @ 1158.25, momentum was picking up, i'll be keeping a close eye on this trade since its so short term, so i'm going 4 contracts short
More...

out at 1159.5

P/L: 1.25 points for 2 contracts, 2.25 for 2 contracts

thoughts: this was another "reversal" play, i should probably cut them out of my playbook altogether, I'm actually NEVER right unless the trend is already in place, not sure what I'm thinking pre-empting reversals....
 
short /ES at 1153

justification: indicators have been screaming at me for awhile, hope i'm not too late, just didn't trust the price till now

my stop is somewhere around 1154 or 1155
 
I like this journal, the format is great - short but informative :cool:

Having recently moved from the west coast I feel your pain. I traded mainly 6E b/c like you say, most of the indices seem to grind along too slowly outside RTH.

Anyway, best of luck

JO
 
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